Income miscalculations are a persistent challenge in mortgage underwriting, often caused by manual data entry, complex income types and time-intensive validation processes. These errors, which remain the top underwriting mistake, can lead to increased costs, longer processing times and inaccurate loan decisions. Consolidated Analytics addresses this issue with loanDNA, an advanced, automated income calculator designed to streamline income analysis, reduce errors and accelerate loan processing.
Using cutting-edge technology, including Optical Character Recognition (OCR), Robotic Process Automation (RPA), Intelligent Document Processing (IDP), and a robust calculation and rules engine, loanDNA processes various income types with precision. From wage earners to complex self-employment scenarios, the platform leverages document classification, data extraction and real-time analysis to deliver accurate results. Its intuitive web-based interface allows underwriters to input, analyze and adjust income data efficiently, enhancing productivity and decision-making.
loanDNA’s income calculator supports diverse document types, such as pay stubs, W-2s, 1040s, bank statements and business income forms like 1065s and 1120s, enabling comprehensive and compliant income verification. By automating these workflows, lenders can make faster, more confident decisions. Future enhancements aim to evaluate underwriting guidelines against loan data and documents, further reducing cycle times and providing advanced insights into income trends, employment gaps and irregularities.
Company Website:
https://www.consolidatedanalytics.com/
Markets Served:
Loan Origination, Secondary, Closing and Business Process Services
Company HQ:
Santa Ana, CA
